Markets

Most dictionary definitions of markets or marketing relate to the location or action of selling items. In the modern context a major part of marketing is the planned production of an item having the quality characteristics highly desired by an identified customer. It also includes developing new products that meet the present or future needs of customers and educational efforts to show or to develop a perceived need for a specific product.

Established markets can be viewed as a resource. However, higher prices may be available by moving beyond the local community or concentrating management efforts to produce a product that meets the needs of the customer better than similar products available in the market area.